Canada's Economy Surges to 3.3% Growth in Second Quarter

The Canadian economy has shown significant growth, expanding by 3.3% in the second quarter of this year. This marks the fastest pace of growth since early 2023, outperforming economists' expectations.

The expansion was driven by increases in exports, household spending, and business investment. Exports surged 15.1% annually, the fastest pace in over three years, but face new headwinds due to renewed trade tensions with the US.

New tariffs on $20 billion worth of Canadian goods came into effect on Saturday, with Canada planning to retaliate with its own levies on September 8.